ZURICH, Switzerland, Nov. 11, 2008 (GLOBE NEWSWIRE) -- Nobel Biocare announced today that it has signed an agreement to buy 100% of BioCad Medical Inc., a leading developer of computer-aided software for prosthetics, for a total amount of approximately EUR 26 million (approximately CHF 39 million). At the same time, Nobel Biocare also announced the signing of an exclusive partnership with Optimet, Optical Metrology Ltd, to offer a new generation of optical scanners with impression scanning capabilities. Along with the acquisition and the partnership, Nobel Biocare will introduce a broad range of new prosthetic materials and products. Hence, Nobel Biocare will be in a position to provide dental professionals a leading optical scanner and CAD/CAM software, the most comprehensive material and product offer, and unique manufacturing capabilities for prosthetics. This complete range will be presented at all major industry events including CDS, AO and IDS in early 2009 and launched thereafter.
Digitalization of the dental value chain is one of the key drivers in dentistry. Today's tooth restoration is being increasingly driven by computer-aided design and manufacturing, which are replacing traditional labor-intensive production steps. CAD/CAM dentistry increases practice and treatment efficiency, and treatment predictability, and offers higher product precision and quality for better esthetic results. As the pioneer in digital dentistry, Nobel Biocare already possesses a comprehensive digital platform with the leading diagnosis, planning and guided surgery software NobelGuide, state of the art scanners, and unique CAD/CAM manufacturing capabilities with Procera(r). With the announced addition of the BioCad software, the exclusive partnership with Optimet for optical scanners and the launch of new prosthetic materials, Nobel Biocare has created the base for the most complete, best quality oral rehabilitation platform available in dentistry today.
Domenico Scala, CEO: "We started developing the new NobelProcera concept ten months ago with the goal to reinforce our leading CAD/CAM position with Procera(r). For the pioneer in dental CAD/CAM, the steps announced today mark an important milestone and allow us to bring to our customers the leading optical scanner and computer aided software technology available today. We will also add new material and product choices to our offer, which together with our unique manufacturing concept and capability will help to further accelerate our growth in CAD/CAM dentistry. Our new NobelProcera concept will offer dental laboratories and clinicians substantial advantages at an excellent value for money."
Acquisition of BioCAD to offer leading prosthetic software
Nobel Biocare will acquire 100% of the shares of BioCad Medical Inc. for approximately EUR 26 million (approximately CHF 39 million). Nobel Biocare will also obtain all rights to BioCad's trademark, brand names, innovation pipeline, strong R&D network, and a facility in Quebec City, Canada. Nobel Biocare will retain the 40 employees from BioCad.
BioCad Medical Inc., a leading medical prosthetic software developer, based in Quebec City, Canada, is specialized in the development of advanced prosthetics software and complementary products. BioCad provides an innovative prosthetic software, overdenture bars and implant bridges.
Over the last ten months Nobel Biocare and BioCad have developed a solution to combine the leading BioCad CAD interface with Nobel Biocare's CAM manufacturing. The new BioCad software essentially takes the restoration process from a computer-assisted design process to a more computer automated design process, reducing and automating much of the design work done by a lab to create the digital model for a restoration. Additional features are an intuitive user interface, new design solutions for overdentures, new design possibilities for customized abutments, crowns, bridges, wax ups and cut backs. It also comes with a comprehensive tooth library and a laser sintering production technology. The software will be launched in early 2009 together with a new optical scanner.
Exclusive partnership with Optimet to offer new generation of optical impression scanners
Nobel Biocare and Optimet have joined together to develop a new generation of optical impression scanners using Optimet's patented conoscopic holography technology. This conoscopic holography technology is clearly superior to today's triangulation process and is able to scan all situations and additionally offer impression scanning capability. The new Nobel Biocare optical scanner will offer exclusive benefits including fast batch scanning, extremely high precision, impression scanning and increased production effectiveness. The new Nobel Biocare optical scanner will further allow direct transfer of digital impression data from the scanner to the three Nobel Biocare production centers. The new optical scanner generation will be launched in early 2009, and will complement Nobel Biocare's existing scanner portfolio for high precision scanning.
The Israel-based Optimet, Optical Metrology Ltd, a subsidiary of the Ophir Group, is a worldwide market leader of optical measuring solutions in metrology technology and inventor of conoscopic holography technology. The partnership between Nobel Biocare and Optimet forms the first step of a strategic R&D cooperation between both companies to develop the next generation of scanning equipment.
Launch of new prosthetic materials and products
Nobel Biocare will introduce a broad set of new prosthetic materials to complete its current wide prosthetic offer. In addition to the already offered materials alumina, zirconia and titanium, Nobel Biocare will expand its material range with non-pressure alloys and acrylics. Nobel Biocare will introduce new prosthetic solutions in shaded zirconia for abutments and bridges, cobalt-chrome and titanium for crowns and bridges, and acrylics for different indications. Nobel Biocare will also introduce a broad set of new Procera(r) products including a range of overdenture bar solutions, completely individualized bar solutions and highly cost effective and customized bar solutions using conventional technical elements. The launch of the new NobelProcera prosthetic materials and products will start in early 2009.
About dental CAD/CAM
Tooth restoration is increasingly driven by computer-aided design (CAD) and computer-aided manufacturing (CAM) of the prosthetics. Modern dental prosthetic inlays, crowns, and bridges are designed by computer (CAD) and then milled on computerized machines (CAM) from metals or ceramics. This procedure is considerably more efficient and is increasingly replacing traditional labor-intensive processes such as casting, layering and firing. CAD/CAM prosthetics are also used in combination with dental implants. The manufacturing of CAD/CAM prosthetics either takes place directly in the lab or in a centralized milling center on high precision industrial machines. Centralized milling options are becoming increasingly common as labs gain full access to a wide product spectrum at only a fraction of the costs (approximately 25% of in-lab systems as they only need to invest in the scanner technology).
About dental CAD/CAM market
CAD/CAM based dentistry is one of the fastest growing market segments in dentistry. The global all-ceramic CAD/CAM prosthetic market is estimated to be worth approximately EUR 650 million in 2008. Its estimated compound annual growth rate is 28%; the market is expected to grow to EUR 2,200 million by 2012. Growth is also accelerated by the conversion of PFM to all-ceramic solutions. Nobel Biocare is the market leader in outsourced central milling for all-ceramic CAD/CAM prosthetics. With Procera(r), Nobel Biocare offers the best documented and leading solution on the market with over 4,000 systems in 54 countries and over 8 million restorations to date.
About BioCad
BioCad Medical Inc. is a privately held company based in Quebec City, Canada. The company is specialized in the development of advanced medical prosthetic software and complementary products. BioCad offers a very strong platform of software and manufacturing expertise to design and manufacture a wide range of prosthetic elements for the dentistry market with a focus on esthetics and implantology. Products and solutions include innovative prosthetic software, overdenture bars and implant bridges. The company was founded in 2006 and builds on 35 years of extensive dental laboratory and implantology experience. BioCad employs 40 highly skilled medical software engineers, dental technicians, and industrial manufacturing specialists. BioCad serves a rapidly growing customer base primarily in Canada and North America.
About Optimet
Optimet, Optical Metrology Ltd is a subsidiary of the Israeli Ophir Optronics Group in Jerusalem. Ophir Optronics is a worldwide leader in laser measurements and IR optics for civil and defense applications. Ophir Group was founded in 1976, and has been listed on the Tel Aviv Stock Exchange since 1991. The Ophir Group maintains production facilities in Israel and North America as well as sales and services organizations in several North American, European and Far Eastern markets. Optimet was established in 1995, and is specialized in 3-D non-contact measurement sensors and systems using the proprietary patented conoscopic holography technology, which enables co-linear measurement. Optimet offer measurement solutions for an extensive range of markets including aerospace, automotive, steel and microelectronics.
Financial reporting calendar 2008/2009: Full Year Report 2008 & Strategy Update 11 February 2009 Annual General Meeting 6 April 2009 Interim Report 1, 2009 29 April 2009 Interim Report 2, 2009 12 August 2009 Interim Report 3, 2009 4 November 2009
Disclaimer
This media release contains forward-looking statements based on beliefs of Nobel Biocare's management. When used in this media release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. They may involve risks and uncertainties, including technological advances in the medical field, product demand and market acceptance, the effect of economic conditions, the impact of competitive products and pricing, foreign currency exchange rates and other risks. These forward-looking statements reflect the views of Nobel Biocare as of the date made with respect to future events and are subject to risks and uncertainties. All of these forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements. Nobel Biocare disclaims any intention or obligation to update these forward-looking statements.
Nobel Biocare is a medical devices group and the world leader in innovative esthetic dental solutions with its brands NobelActive(tm), Branemark System(r), NobelReplace(tm), NobelSpeedy(tm), NobelPerfect(r), NobelDirect(r), Replace Select (dental implants), Procera(r) (individualized dental prosthetics), NobelGuide(tm) (complete patient rehabilitation program) and NobelSmile(tm) (patient education and awareness program). Nobel Biocare is a full solution provider for restorative esthetic dentistry, offering a wide range of innovative crown & bridge & implant products, as well as training and education, patient information and clinically documented treatment concepts. Nobel Biocare has over 2,500 employees and recorded revenue of EUR 665.9 million in 2007. The Company is domiciled and headquartered in Zurich, Switzerland. Production takes place at six production sites located in Sweden, the U.S., Japan and Israel. Nobel Biocare has 37 direct sales organizations. The shares of the parent company Nobel Biocare Holding AG are listed on SIX Swiss Exchange (NOBN).